Greece has run out of OPM

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July 12th, 2015 at 11:25:40 AM permalink
petroglyph
Member since: Aug 3, 2014
Threads: 25
Posts: 6227
Quote: AZDuffman
It looks like Greece is getting close to exiting the Eurozone as Germany is in the position of a sugar daddy who is tired of his baby spending like there is no tomorrow and cutting her off.
Sugar daddy? If you are referring to Deutsche bank they will make a fortune off of the loans that were forced on Greece. Spent by the same politico's and payments suffered by the similar people that will pay the debt the fiat world over.
Quote:
The question of course is if and when Euro debt will be repaid.
Of course it won't be repaid, we already know that. It won't be repaid any more than US debt will be repaid. The loans were never intended to be repaid, they were given to get control over Greece's resources, strategic location. We already knew the fiat loaned to Greece never existed until it was loaned [fiat]. How much pain to you expect ordinary people to endure for the likes of some central NWO banker?
Quote:
Greece can return to their own currency, but they still have debt to pay. To convert the Euro debt to local currency is to write most of it off. To keep it in Euros is to sentence Greece to major inflation for a generation.
It seems like you want to blame the Greek people here who have been plundered twice in a century by Germany.

This article explains the situation differently;http://www.theguardian.com/commentisfree/2015/jul/10/germany-greek-pain-debt-relief-grexit

The threat to Greece it seems is as much a warning to France and the PIGGS as it is about Greece's debt. The Euro fiat is as bound to collapse as any other fiat. It eventually doesn't continue to be viable. Their politiicians do the same damn thing ours do. Over and over. Those that sit on thrones and make rules without producing anything other than impediments to production are the downfall of the producing class.

When the burden becomes too much and the producers catch on to the scheme, we have war. Which will create a new round for an economy and a public distraction. No one will mention the fact the war was never necessary, the young will fight, the old will age and fall off the radar, and the cycle continues until the money changers own the world. easy peazy

They own the press. It is interesting to me that an alternate financial disaster is happening and it isn't even mentioned in the press by the "presstitutes" http://neweconomicperspectives.org/2015/07/libor-historys-largest-financial-crime-that-the-wsj-and-nyt-would-like-you-to-forget.html#comments

William Black who wrote that article was in charge of cleaning up the S&L crisis under Reagan and put a thousand bankers in jail. That crime was minuscule compared to what is going on now. If the S&L disaster was a disaster, what has happened since "01 is Armageddon
The last official act of any government is to loot the treasury. GW
July 12th, 2015 at 10:17:17 PM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: petroglyph
The Euro fiat is as bound to collapse as any other fiat. It eventually doesn't continue to be viable.


The Swiss franc was the last currency to be constitutionally tied to gold. They changed that with an amendment almost a decade ago. Now all currencies are fiat, it is just that some countries have more reserve than others.

If all fiat currencies collapse, then you are essentially talking about the end of civilization.
July 12th, 2015 at 11:30:31 PM permalink
Fleastiff
Member since: Oct 27, 2012
Threads: 62
Posts: 7831
Quote: Pacomartin
If all fiat currencies collapse, then you are essentially talking about the end of civilization.

That might happen, but it is likely to occur by tiers. top tier currency will perhaps collapse by Putin-lead, russian mafia enforced enhanced of second tier countries brics. and of course the bottom tier is always subject to collapse ... turkey, greece, Poor Man of europe, whatever.
July 13th, 2015 at 1:21:32 AM permalink
petroglyph
Member since: Aug 3, 2014
Threads: 25
Posts: 6227
Quote: Pacomartin
The Swiss franc was the last currency to be constitutionally tied to gold. They changed that with an amendment almost a decade ago. Now all currencies are fiat, it is just that some countries have more reserve than others.
The new SDR or Yuan or whatever replaces the dollar as the WRC will be backed for awhile anyway with a basket of currencies and gold.

Quote:
If all fiat currencies collapse, then you are essentially talking about the end of civilization.
http://georgewashington2.blogspot.com/2011/08/average-life-expectancy-for-fiat.html

Just a blog, but he does a lot of research. I wanted a list to put up here, I think this lists 775 fiat currencies that failed. It isn't the end of civilization, is wasn't for Weimar Germany, or Zimbabwe or the others. It will reset the value of the unit of exchange. It has happened many times before. The US dollar has lost 97% of it's value since the origination of the Federal reserve [which isn't federal] in 1913, that is pretty close to collapse right there.
The last official act of any government is to loot the treasury. GW
July 13th, 2015 at 1:38:27 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25010
I had some billion mark 1923 notes years ago,
they were pretty cool. I sold them for $20,
talk about inflation..
If you take a risk, you may lose. If you never take a risk, you will always lose.
July 13th, 2015 at 6:45:16 AM permalink
Pacomartin
Member since: Oct 24, 2012
Threads: 1068
Posts: 12569
Quote: petroglyph
The US dollar has lost 97% of it's value since the origination of the Federal reserve [which isn't federal] in 1913, that is pretty close to collapse right there.


I get 95.8%, but that is pretty close. But fiat currencies were not meant to hold value for a century.
July 13th, 2015 at 6:55:13 AM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18136
Quote: Pacomartin
Quote: petroglyph
The US dollar has lost 97% of it's value since the origination of the Federal reserve [which isn't federal] in 1913, that is pretty close to collapse right there.


I get 95.8%, but that is pretty close. But fiat currencies were not meant to hold value for a century.


They are meant to lose value. The world is hooked on inflation like a meth addict. Without it the world grinds to a halt in a few years.
The President is a fink.
July 13th, 2015 at 8:39:55 AM permalink
FrGamble
Member since: Oct 24, 2012
Threads: 67
Posts: 7596
I wish I understood this stuff, but it is pretty scary. Good thing there is God, Heaven, and ultimately something to look forward to. This of course doesn't mean we have a lot of work to do right here, right now, to try to fix some of this stuff.
“It is with the smallest brushes that the artist paints the most exquisitely beautiful pictures.” (
July 13th, 2015 at 9:48:42 AM permalink
petroglyph
Member since: Aug 3, 2014
Threads: 25
Posts: 6227
Quote: Pacomartin
Quote: petroglyph
The US dollar has lost 97% of it's value since the origination of the Federal reserve [which isn't federal] in 1913, that is pretty close to collapse right there.


I get 95.8%, but that is pretty close. But fiat currencies were not meant to hold value for a century.
The federal reserve note is doing exactly what it was supposed to https://en.wikipedia.org/wiki/Gresham%27s_law

"Bad money drives out good"
The last official act of any government is to loot the treasury. GW
July 13th, 2015 at 10:59:52 AM permalink
Nareed
Member since: Oct 24, 2012
Threads: 346
Posts: 12545
It may not be too late to offer a grand sacrifice to Athena and her father/mother, Zeus.
Donald Trump is a one-term LOSER
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